National home prices rose 3.7% annually in March

Real Estate

National home prices rose 3.7% annually in March, down from 3.9% in February, according to the S&P CoreLogic Case-Shiller home price index.

Prices had been seeing double-digit annual gains, but they are gone. The largest annual gain was 8.2% in Las Vegas; one year ago, Seattle had a 13% gain but has dropped dramatically to just 1.6%. The 20-City Composite dropped from 6.7% to 2.7% annual gains over the last year.

“Given the broader economic picture, housing should be doing better,” David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, wrote in the report. He noted that mortgage rates and unemployment were down, along with low inflation and moderate increases in real incomes.

Click here for more information: https://www.cnbc.com/2019/05/28/home-price-gains-weaken-yet-again-in-march-sp-case-shiller-index.html